Table of Contents
- What is the Guaranteed Revenue Program?
- How does the GRP work?
- What does an example payment look like?
- How do I get paid?
- Who is eligible for the CloudTrucks GRP?
- How long will the CloudTrucks GRP run for?
- How do you determine "loaded miles"?
- How do you determine "total revenue"?
- How will program details including loaded miles and total revenue be communicated to me?
- How do I get started?
- Where can I see how much progress I've made towards my loaded mileage goal?
- I started running a load towards the end of one GRP cycle period, but delivered it in the beginning of a new cycle period. (For example, the load picked up on a Friday, but delivered on Monday) Which GRP cycle do those miles count towards?
- Do load out trailer loads qualify for the GRP?
- What should I do if I have more questions?
What is the Guaranteed Revenue Program?
The Guaranteed Revenue Program (GRP) is a program designed to ensure that drivers are able to see consistent revenue week-over-week, regardless of the market conditions. Through this program, we will ensure that if Virtual Carrier drivers drive a minimum number of miles every week, they’ll be guaranteed a minimum payout and any amount earned less than the guarantee will lead to the drivers being topped up by CloudTrucks. Any amount over the minimum payout is, of course, still the driver’s to keep. This will allow for drivers to maintain steady cashflow and forecast what they will make each week, without having to sacrifice everything they love about being an owner-operator - booking their own loads, maintaining their business ownership, choosing their equipment, etc.
How does the GRP work?
Starting on Monday, January 8th, this program will run for 2 weeks and continue running for successive 2-week cycles. Each cycle will begin at Monday at 12:00AM PST and runs for two weeks until the following Sunday (13 days later) at 11:59PM PST.
This program will look at the total loaded miles and total revenue generated during that time period to determine payout eligibility as detailed below:
- Tier 1: Run at least 1,500 loaded miles per week (3,000 loaded miles total over the 2-week cycle) and you’ll earn a minimum of $3,250 per week ($6,500 over the 2-week cycle)
- If a driver completes 1,500 loaded miles and earns a $3,250 revenue guarantee for the week, they'll earn $2.16/mile
- Tier 2: Run at least 2,000 loaded miles per week (4,000 loaded miles total over the 2-week cycle) and you’ll earn a minimum of $4,500 per week ($9,000 over the 2-week cycle)
- If a driver completes 2,000 loaded miles and earns a $4,500 revenue guarantee for the week, they'll earn $2.25/mile
All payouts received by drivers are subject to CloudTrucks’ Lease Fee and Service Fee (18% unless specified otherwise in your Lease Agreement) which will be removed prior to payout.
All drivers must maintain an average rate per mile above $1.40 (Rate Floor) over the entire cycle to remain eligible for the program. Average rate per mile is defined as the Total Revenue divided by the Loaded Miles. While individual loads may be below this rate per mile, the average of all loads over the cycle must be above the rate floor. Failure to do so will disqualify the Driver from a payout and may result in removal from the program.
What does an example payment look like?
John runs 4,254 miles and earns $8,236 over the 2-week cycle.
That means he ran 2,127 miles each week and made $4,118 each week. John qualifies for the 2,000 loaded miles tier (Tier 2) and qualifies for an additional payout to earn a minimum of $4,500 each week.
How we would calculate payout:
$4,500 (GRP weekly minimum) - $4,118 (driver weekly revenue) = $382
$382 * 2 weeks = $764
$784 - CloudTrucks 18% Fee = $626.48 total additional revenue over the 2-week cycle
James runs 3,453 miles and earns $6,616 over the 2-week cycle.
That means he ran 1,727 miles each week and made $3,308 each week
James does not earn additional revenue as he qualifies for the 1,500 loaded miles tier (Tier 1) and has earned more than $3,250
How do I get paid?
All payouts will be determined within 3 business days after the end of each cycle. Payouts will be deposited into the Driver’s CT cash balance.
Who is eligible for the CloudTrucks GRP?
All drivers who are in good operational standing with CloudTrucks without safety violations (see below) will be eligible for this program.
Drivers will be removed from the program due to violations of CloudTrucks’ Safety Agreement, including but not limited to Hours-of-Service Violations, having an unauthorized driver in your vehicle or not reporting accidents occurring during the Delivery Period. Drivers who fail to maintain an average rate per mile during each cycle above the rate floor will be ineligible for payment.
How long will the CloudTrucks GRP run for?
The first cycle will be Monday, January 8th until Sunday, January 21st and keep renewing for successive 2-week cycles. Each cycle will run from Monday, 12:00AM PST until the Sunday (13 days later) at 11:59PM PST. At any time, with advance written notice, CloudTrucks may decide to alter the program details or end the program.
How do you determine "Loaded Miles"?
Your loaded miles are determined based on the sum of total completed loaded miles for jobs successfully delivered within the 2-week Delivery Period.
- Loaded Miles do not include any jobs accepted but not yet completed.
- Loaded Miles do not include any “deadhead” miles incurred between loads.
- Loaded Miles per job will be determined in the Rate Confirmation provided by the Broker when the driver accepts the job. In the event that the Rate Confirmation does not include Loaded Miles, CloudTrucks will determine the mileage for the Job using common mapping technologies such as Google Maps.
How do you determine "Total Revenue"?
Total Revenue is the sum of revenue generated from all jobs delivered within the 2-week Delivery Period. Revenue will reflect what is stated in the Rate Confirmation provided by the Broker when the driver accepts the Job. Total Revenue includes Truck Ordered Not Used (TONU) payments however, excludes all other "accessorial" payments such as Detention.
How will program details including loaded miles and total revenue be communicated to me?
Drivers will receive a mix of emails, mobile push notifications and mobile in-app messages. Drivers who have unsubscribed from CloudTrucks communications may not receive specific updates so please ensure you have your notifications activated.
How do I get started?
If you haven’t already, please sign up for Virtual Carrier to drive under CloudTrucks’ authority. Drivers will be invited to join the program after delivering their first completed job on the CloudTrucks’ platform. If have already signed up for Virtual Carrier however, not yet completed your first job, please contact your Sales representative regarding your next onboarding steps.
Where can I see how much progress I've made towards my loaded mileage goal?
We'll show you how much progress you've made towards your mileage goal at the top of your CT mobile app home page. Please note this data is refreshed hourly, so if you feel the number you're seeing is not 100% accurate, please refresh in a little while and it'll be updated.
I started running a load towards the end of one GRP cycle period, but delivered it in the beginning of a new cycle period. (For example, the load picked up on a Friday, but delivered on Monday) Which GRP cycle do those miles count towards?
GRP mileage is based on the date the load is delivered. In this case, all the miles from that load include the ones from Friday-Sunday count towards the new GRP cycle since it delivered on Monday of the new cycle.
Do load out trailer loads qualify for the GRP?
Yes load out trailer loads do count towards your total mileage for the GRP, however please be aware that the rate per mile on load out trailer loads is often very low. This can bring your average RPM down, which as a reminder must be at least $1.40 over the course of the two week cycle.
What should I do if I have more questions?
Please check our Terms & Conditions or reach out to your Business Consultant. You can also contact email@example.com.